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2024-03-31-accounts

The Abbey Access Centre

Company Limited by Guarantee Unaudited financial statements

31 March 2024

Company Registration Number 03783671

The Abbey Access Centre

Company Limited by Guarantee

Financial statements

Year ended 31 March 2024

Pages
Trustees' annual report (incorporating the director's report) 1 to 5
Independent examiner's report to the trustees 6
Statement of financial activities (including income and
expenditure account) 7
Statement of financial position 8 to 9
Statement of cash flows 10
Notes to the financial statements 11 to 21
The following pages do not form part of the financial statements
Detailed statement of financial activities 23 to 24

- 1 -

The Abbey Access Centre

Company Limited by Guarantee

Trustees' annual report (incorporating the director's report)

Year ended 31 March 2024

The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2024.

Reference and administrative details

Registered charity name

The Abbey Access Centre

Charity registration number 1079642 Company registration number 03783671 Principal office and registered The Abbey Access Centre office Arboretum Lodge Monks Road Lincoln LN2 5HU

The trustees

J Loffhagen F Smith S Donnor M J Holliday N K Pettit H F F Kok Company secretary G Dunn Independent examiner Tom Darby FCCA 7 Spring Gardens Gainsborough

Structure, governance and management

Governing document

The Abbey Access Centre is a company limited by guarantee governed by its Memorandum and Articles of Association dated 7 June 1999. It is a registered charity with the Charity Commission. Anyone over the age of 18 can become a member of the Company and there are currently 14 members of the organisation.

- 2 -

The Abbey Access Centre

Company Limited by Guarantee

Trustees' annual report (incorporating the director's report) (continued)

Year ended 31 March 2024

Structure, governance and management (continued)

Recruitment and appointment of Trustees

As set out in the Articles of Association no person can be appointed a trustee unless he has attained the age of 18 years or in circumstances such that had he already been a Trustee, he would have been disqualified from acting under the provisions of Article 38. The Trustees may appoint a person who will act to be a Trustee either to fill a vacancy or as an additional Trustee provided that the appointment does not cause the Trustees to exceed 10. The number of Trustees at any one time must not be less than 3.

Not less than 7, but no more than 28, clear days before the date appointed for holding a general meeting notice shall be given to all persons who are entitled to receive a notice of the meeting or any person who is recommended by the Trustees for appointment or reappointment. When considering a Trustee the Board gives regard to the requirements of specialist skills necessary for the development and sustainability of The Abbey Access Centre.

Trustee induction and Training

All new Trustees undergo a training day delivered by an external consultant to brief them on their legal obligations under charity and company law, the Charity Commission guidance on public benefit. the content of the Memorandum and Articles of Association, the committee and the decision-making process, the business plan and recent financial performance. During the induction day they will meet key employees and other Trustees. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.

Risk Management

The Trustees have examined the major strategic, business and operational risks, which the charity faces and confirm that systems have been established in order to lessen these risks.

The Trustees monitor the progress and financial situation at their regular meetings. Within these meetings they:

The charity continues to work closely with an external consultant to assist in seeking additional revenue funding and successful tendering of projects in order to continue generating funds and thereby reduce the business and operational risks the charity faces.

- 3 -

The Abbey Access Centre

Company Limited by Guarantee

Trustees' annual report (incorporating the director's report) (continued)

Year ended 31 March 2024

Structure, governance and management (continued)

Organisation

The Board meets quarterly and a Chair is appointed by the Trustees to manage the day-to-day operations of the Charity. To facilitate effective operations the Chair has delegated authority within terms of delegation approved by the Trustees, for operational matters including finance, employment and related activity.

The Charity is organised so that the Trustees meet regularly to manage its affairs. There is a manager who manages the day-to-day administration of the Centre and we are grateful to unpaid volunteers who provide their time to help with the running of The Abbey Access Centre.

Objectives and activities

The Abbey Access Centre's aims are to advance education by:

1) Promoting the training and rehabilitation of persons resident within the area of Abbey Ward of the City of Lincoln who by reason of their social and economic circumstances are unable to gain employment;

2) Providing formal or informal education and otherwise to relieve any hardship or distress of those in need through their social and economic circumstances;

3) to promote such other charitable purposes for the general benefit of the public as the charity shall think fit.

In shaping our objectives for the year and planning our activities, the Trustees have considered the Charity Commissions guidance on public benefit, in particular the Trustees consider how specific projects will contribute to their objectives.

The charity continues to provide free services to the local community, which include training to help to get the local community into employment, education or other training programmes. Through this work the Trustees aim to further the charitable purposes for the public benefit.

Achievements and performance

There have been a range of key projects undertaken throughout the year:

CLIP/ Career Net

CLIP has provided funding for the Career Net project. This project supported 16-24 year olds to develop skills, qualifications and improve their opportunities to progress into employment, education or training. This contract ended in March 2023. Clip has also provided a small amount of funding for 16-18 year olds under the Flare Study Programme project.

Building Better Opportunities (BBO)

The Centre has held 2 BBO Contracts via Voluntary Centre Services and Grantham College. These projects support those furthest from the Labour market to progress in their skills, qualifications, work experience and progress into employment. Both contracts came to an end in 2023.

- 4 -

The Abbey Access Centre

Company Limited by Guarantee

Trustees' annual report (incorporating the director's report) (continued)

Year ended 31 March 2024

Achievements and performance (continued)

Lincolnshire County Council funded the Community Learning Programme and qualification funding. The community learning funding provided training to those unemployed to access our Get into Construction Programme. The qualification funding provided support for individuals who were unemployed or in employment and wanting to upskill themselves and achieve an NVQ in Customer Service, Business Administration, Food Preparation or Advice and Guidance. We also received additional funding for English and Maths programmes, Money Matters, Reading Club and Barista Training, Creative Writing, Wellbeing.

Lincolnshire County Council Multiply contact has funded bespoke maths activities for learners. We have delivered Cooking on a budget and Airfryer/ Slow Cooker courses under this funding over the last year. We have also undertaken outreach activities in local schools across the City to engage parents in Maths.

Skills Bootcamp contract

A pilot to develop the first wave of SkillsBootcamp training in construction.

Youth Futures Foundation

A grant received this year to help us develop SkillsBootcamps.

Better Together Project

The Centre has secured a joint Lottery bid to fund the Better Together Project which is focused on individuals overcoming barriers in Mental Health and moving forward with their lives.

COLC

COLC provided funding to support the development of our Bakery training programme. We secured £50,000 to train young people in Bakery skills.

Investors in Lincoln

Investors in Lincoln provided us with funding to support the development of young people in construction skills to support our study programme funded programme.

BNA

The BNA charity have provided us with funding to buy bakery equipment for the delivery of our new Bakery training course and funding to support young people in bakery skills.

CITB

The Construction Industry Training Board has provided us with a 3 year contract to fund the mentoring of our construction learners in the workplace. It has allowed us to provide ongoing support in the workplace for up to 6 months.

- 5 -

The Abbey Access Centre

Company Limited by Guarantee

Trustees' annual report (incorporating the director's report) (continued)

Year ended 31 March 2024

Financial review

Investment powers

As per the Articles of Association, the Trustees are empowered to invest such part of the fund as they may see fit in furtherance of the objectives of the charity. During the year no such investments were made.

Reserves policy

It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity, at a level, which equates to a minimum of approximately six months unrestricted expenditure. This provides sufficient funds to cover management and administration support costs. Unrestricted funds were maintained at this level throughout the year.

Plans for future periods

Funding for 2023/2024

Our Lincolnshire County Council Community Learning funding has been increased this year to help us overcome some of the funding we have lost as ESF funding came to an end, Multiply funding and Qualification funding, Better Together contract, a grant from Lincolnshire Community Foundation, Youth Futures Foundation, CITB, Community Renewal Funding, Enable AEB and Traineeship funding, Commercial NVQ's for external employers and Awards for All. In addition, we have a healthy income from our Cafe and Commercial Short Course delivery.

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

The trustees' annual report was approved on .............................. and signed on behalf of the board of trustees by:

G Dunn

Charity Secretary

- 6 -

The Abbey Access Centre

Company Limited by Guarantee

Independent examiner's report to the trustees of The Abbey Access Centre

Year ended 31 March 2024

I report to the trustees on my examination of the financial statements of The Abbey Access Centre ('the charity') for the year ended 31 March 2024.

Responsibilities and basis of report

As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act’).

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or

  2. the financial statements do not accord with those records; or

  3. the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or

  4. the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Tom Darby FCCA Independent Examiner

7 Spring Gardens Gainsborough

- 7 -

The Abbey Access Centre

Company Limited by Guarantee

Statement of financial activities (including income and expenditure account)

Year ended 31 March 2024

2024 2023
Unrestricted Restricted
funds funds Total funds Total funds
Note £ £ £ £
Income and endowments
Donations and legacies 4 12,973 – 12,973 13,184
Charitable activities 5 252,280 479,967 732,247 838,126
Other trading activities 6 98,656 – 98,656 87,757
Investment income 7 1,186 – 1,186 62
───────── ───────── ───────── ─────────
Total income 365,095 479,967 845,062 939,129
═════════ ═════════ ═════════ ═════════
Expenditure
Expenditure on raising funds:
Costs of other trading activities 8 74,050 – 74,050 72,940
Expenditure on charitable activities 9,10 320,850 447,463 768,312 863,594
───────── ───────── ───────── ─────────
Total expenditure 394,900 447,463 842,362 936,534
═════════ ═════════ ═════════ ═════════
───────── ───────── ───────── ─────────
Net income and net movement in funds (29,805) 32,504 2,700 2,595
═════════ ═════════ ═════════ ═════════
Reconciliation of funds
Total funds brought forward 182,018 72,284 254,302 251,707
───────── ───────── ───────── ─────────
Total funds carried forward 152,213 104,788 257,001 254,302
═════════ ═════════ ═════════ ═════════

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 11 to 21 form part of these financial statements.

- 8 -

The Abbey Access Centre

Company Limited by Guarantee

Statement of financial position

31 March 2024

2024 2023
Note £ £ £
Fixed assets
Tangible fixed assets 16 89,170 95,510
Current assets
Stocks 17 3,886 4,215
Debtors 18 44,214 64,736
Cash at bank and in hand 165,216 140,200
───────── ─────────
213,316 209,151
Creditors: amounts falling due within one year 19 27,195 22,205
───────── ─────────
Net current assets 186,121 186,946
───────── ─────────
Total assets less current liabilities 275,291 282,456
Creditors: amounts falling due after more than
one year 20 18,289 28,154
───────── ─────────
Net assets 257,002 254,302
═════════ ═════════
Funds of the charity
Restricted funds 104,788 72,284
Unrestricted funds 152,213 182,018
───────── ─────────
Total charity funds 22 257,001
═════════		 254,302
═════════

For the year ending 31 March 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

The statement of financial position continues on the following page.

The notes on pages 11 to 21 form part of these financial statements.

- 9 -

The Abbey Access Centre

Company Limited by Guarantee

Statement of financial position (continued)

31 March 2024

These financial statements were approved by the board of trustees and authorised for issue on 20 December 2023, and are signed on behalf of the board by:

F Smith Trustee

The notes on pages 11 to 21 form part of these financial statements.

- 10 -

The Abbey Access Centre

Company Limited by Guarantee

Statement of cash flows

Year ended 31 March 2024

Year ended 31 March 2024
2024 2023
£ £
Cash flows from operating activities
Net income 2,700 2,595
Adjustments for:
Depreciation of tangible fixed assets 14,246 14,018
Dividends, interest and rents from investments (1,186) (62)
Interest payable and similar charges 1,610 2,040
Accrued expenses 180 216
Changes in:
Stocks 329 (1,907)
Trade and other debtors 20,522 (48,197)
Trade and other creditors 4,811 (2,946)
──────── ────────
Cash generated from operations 43,212 (34,243)
Interest paid (1,610) (2,040)
──────── ────────
Net cash from/(used in) operating activities 41,602 (36,283)
════════ ════════
Cash flows from investing activities
Dividends, interest and rents from investments 1,186 62
Purchase of tangible assets (7,906) (17,779)
──────── ────────
Net cash used in investing activities (6,720) (17,717)
════════ ════════
Cash flows from financing activities
Proceeds from borrowings (9,866) (9,508)
──────── ────────
Net cash used in financing activities (9,866) (9,508)
════════ ════════
Net increase/(decrease) in cash and cash equivalents 25,016 (63,508)
Cash and cash equivalents at beginning of year 140,200 203,708
───────── ─────────
Cash and cash equivalents at end of year 165,216 140,200
═════════ ═════════

The notes on pages 11 to 21 form part of these financial statements.

- 11 -

The Abbey Access Centre

Company Limited by Guarantee

Notes to the financial statements

Year ended 31 March 2024

1. General information

The charity is a private charity limited by shares, registered in England and Wales. The address of the registered office is The Abbey Access Centre, Arboretum Lodge, Monks Road, Lincoln, LN2 5HU.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or

commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

- 12 -

The Abbey Access Centre

Company Limited by Guarantee

Notes to the financial statements (continued)

Year ended 31 March 2024

3. Accounting policies (continued)

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Tangible assets

All fixed assets are initially recorded at cost.

- 13 -

The Abbey Access Centre

Company Limited by Guarantee

Notes to the financial statements (continued)

Year ended 31 March 2024

3. Accounting policies (continued)

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Property improvements - 2% straight line Fixtures and fittings - 15% & 25% reducing balance Equipment - 25% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.

- 14 -

The Abbey Access Centre

Company Limited by Guarantee

Notes to the financial statements (continued)

Year ended 31 March 2024

4. Donations and legacies

Unrestricted Total Funds Unrestricted Total Funds
Funds 2024 Funds 2023
£ £ £ £
Donations
Donations 12,973 12,973 13,184 13,184
════════ ════════ ════════ ════════

5. Charitable activities

Unrestricted Restricted Total Funds
Funds Funds 2024
£ £ £
Course fee income 30,490 – 30,490
Room hire 980 – 980
Awards for all – – –
CLIP 49,375 – 49,375
DWP Kickstart – – –
Enable – 22,580 22,580
Youth Futures Foundation – 60,480 60,480
Better Together Project – 28,780 28,780
COLC 61,038 – 61,038
PeoplePlus 3,303 – 3,303
BBO 13,525 – 13,525
Community Renewal Fund – – –
Lincolnshire County Council – 334,632 334,632
CITB 42,545 – 42,545
Lincs Community Foundation – – –
BNA – 33,495 33,495
Investors in Lincoln 50,000 – 50,000
Miscellaneous 1,024 – 1,024
───────── ───────── ─────────
252,280 479,967 732,247
═════════ ═════════ ═════════

- 15 -

The Abbey Access Centre

Company Limited by Guarantee

Notes to the financial statements (continued)

Year ended 31 March 2024

5. Charitable activities (continued)

Unrestricted Restricted Total Funds
Funds Funds 2023
£ £ £
Course fee income 25,621 – 25,621
Room hire 145 – 145
Awards for all – 9,980 9,980
CLIP 93,589 – 93,589
DWP Kickstart – 29,005 29,005
Enable – 21,431 21,431
Youth Futures Foundation – 201,600 201,600
Better Together Project – 25,454 25,454
COLC – – –
PeoplePlus 40,124 – 40,124
BBO 73,251 – 73,251
Community Renewal Fund – 80,855 80,855
Lincolnshire County Council – 155,414 155,414
CITB 12,315 – 12,315
Lincs Community Foundation 7,150 – 7,150
BNA – 58,500 58,500
Investors in Lincoln – – –
Miscellaneous 3,692 – 3,692
───────── ───────── ─────────
255,887 582,239 838,126
═════════ ═════════ ═════════
6. Other trading activities
Unrestricted Total Funds Unrestricted Total Funds
Funds 2024 Funds 2023
£ £ £ £
Cafe 98,656 98,656 87,757 87,757
════════ ════════ ════════ ════════
7. Investment income
Unrestricted Total Funds Unrestricted Total Funds
Funds 2024 Funds 2023
£ £ £ £
Income from cash investments 1,186 1,186 62 62
═══════ ═══════ ════ ════
8. Costs of other trading activities
Unrestricted Total Funds Unrestricted Total Funds
Funds 2024 Funds 2023
£ £ £ £
Primary purpose trading - cafe costs 74,050 74,050 72,940 72,940
════════ ════════ ════════ ════════

- 16 -

The Abbey Access Centre

Company Limited by Guarantee

Notes to the financial statements (continued)

Year ended 31 March 2024

9. Expenditure on charitable activities by fund type

Unrestricted Restricted Total Funds
Funds Funds 2024
£ £ £
Educational Community 317,040 447,463 764,502
Support costs 3,810 – 3,810
───────── ───────── ─────────
320,850 447,463 768,312
═════════ ═════════ ═════════
Unrestricted Restricted Total Funds
Funds Funds 2023
£ £ £
Educational Community 334,653 524,837 859,490
Support costs 4,104 – 4,104
───────── ───────── ─────────
338,757 524,837 863,594
═════════ ═════════ ═════════

10. Expenditure on charitable activities by activity type

Activities
undertaken Total funds Total fund
directly Support costs 2024 2023
£ £ £ £
Educational Community 764,502
–		 764,502 859,490
Governance costs –
3,810		 3,810 4,104
─────────
───────		 ───────── ─────────
764,502
3,810		 768,312 863,594
═════════
═══════		 ═════════ ═════════

11. Funds received as agent

During the year the charity received no funds as an agent acting on behalf of other entities.

Balance Balance
held at 1 Amount Amount paid held at 31
April 2022 received out March 2023
£ £ £ £
Community Renewal Fund 48,750 95,411
143,621		 –
DWP Kickstart – 19,511
19,511		 –
──────── ─────────
─────────
────
Total 48,750 114,922
163,132		 –
════════ ═════════
═════════
════
Net income
Net income is stated after charging/(crediting):
2024 2023
£ £
Depreciation of tangible fixed assets 14,246 14,018
════════
════════

12. Net income

- 17 -

The Abbey Access Centre

Company Limited by Guarantee

Notes to the financial statements (continued)

Year ended 31 March 2024

13. Independent examination fees

2024 2023
£ £
Fees payable to the independent examiner for:
Independent examination of the financial statements 2,640 2,460
Other financial services 1,170 1,644
─────── ───────
3,810 4,104
═══════ ═══════

14. Staff costs

The total staff costs and employee benefits for the reporting period are analysed as follows:

2024 2023
£ £
Wages and salaries 449,950 475,604
Social security costs 29,022 30,414
Employer contributions to pension plans 8,895 8,039
───────── ─────────
487,867 514,057
═════════ ═════════
The average head count of employees during the year was 23 (2023: 26). The average The average head count of employees during the year was 23 (2023: 26). The average number
of full-time equivalent employees during the year is analysed as follows:
2024 2023
No. No.
Direct charitable employees 23 26
════ ════

No employee received employee benefits of more than £60,000 during the year (2023: Nil).

15. Trustee remuneration and expenses

No remuneration or other benefits from employment with the charity or a related entity were received by the trustees

- 18 -

The Abbey Access Centre

Company Limited by Guarantee

Notes to the financial statements (continued)

Year ended 31 March 2024

16. Tangible fixed assets

Land and Fixtures and
buildings fittings Equipment Total
£ £ £ £
Cost
At 1 April 2023 51,205 56,981 36,746 144,932
Additions 3,960 – 3,946 7,906
──────── ──────── ──────── ─────────
At 31 March 2024 55,165 56,981 40,692 152,838
════════ ════════ ════════ ═════════
Depreciation
At 1 April 2023 4,948 25,604 18,870 49,422
Charge for the year 1,064 4,713 8,469 14,246
──────── ──────── ──────── ─────────
At 31 March 2024 6,012 30,317 27,339 63,668
════════ ════════ ════════ ═════════
Carrying amount
At 31 March 2024 49,153 26,664 13,353 89,170
════════ ════════ ════════ ═════════
At 31 March 2023 46,257 31,377 17,876 95,510
════════ ════════ ════════ ═════════
17. Stocks
2024 2023
£ £
Raw materials and consumables 3,886 4,215
═══════ ═══════
18. Debtors
2024 2023
£ £
Other debtors 44,214 64,736
════════ ════════
19. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 10,000 10,001
Trade creditors 5,001 –
Accruals and deferred income 2,640 2,460
Social security and other taxes 9,554 9,202
Other creditors – 542
──────── ────────
27,195 22,205
════════ ════════
20. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 18,289 28,154
════════ ════════

- 19 -

The Abbey Access Centre

Company Limited by Guarantee

Notes to the financial statements (continued)

Year ended 31 March 2024

21. Pensions and other post retirement benefits

Defined contribution plans

The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £8,895 (2023: £8,039).

22. Analysis of charitable funds

Unrestricted funds

Unrestricted funds
At
At 31 March 202
1 April 2023 Income Expenditure
4
£ £ £ £
General funds 182,018 365,095 (394,900)
152,213
═════════ ═════════ ═════════
═════════
At
At 31 March 202
1 April 2022 Income Expenditure
3
£ £ £ £
General funds 236,825 356,890 (411,697)
182,018
═════════ ═════════ ═════════
═════════

- 20 -

The Abbey Access Centre

Company Limited by Guarantee

Notes to the financial statements (continued)

Year ended 31 March 2024

22. Analysis of charitable funds (continued)

Restricted funds

Restricted funds
At
At 31 March 202
1 April 2023 Income Expenditure
4
£ £ £ £
Enable, LCC and YMCA Community
Learning – 357,212 (357,212)
–
Cafe improvements and equipment 13,784 – (991)
12,793
Awards for all – – –
–
DWP Kickstart – – –
–
Youth Futures Foundation – 60,480 (60,480)
–
Better Together Project – 28,780 (28,780)
–
Community Renewal Fund – – –
–
BNA 58,500 33,495 –
91,995
──────── ───────── ─────────
─────────
72,284 479,967 (447,463)
104,788
════════ ═════════ ═════════
═════════
At
At 31 March 202
1 April 2022 Income Expenditure
3
£ £ £ £
Enable, LCC and YMCA Community
Learning – 176,845 (176,845)
–
Cafe improvements and equipment 14,882 – (1,098)
13,784
Awards for all – 9,980 (9,980)
–
DWP Kickstart – 29,005 (29,005)
–
Youth Futures Foundation – 201,600 (201,600)
–
Better Together Project – 25,454 (25,454)
–
Community Renewal Fund – 80,855 (80,855)
–
BNA – 58,500 –
58,500
──────── ───────── ─────────
────────
14,882 582,239 (524,837)
72,284
════════ ═════════ ═════════
════════

- 21 -

The Abbey Access Centre

Company Limited by Guarantee

Notes to the financial statements (continued)

Year ended 31 March 2024

23. Analysis of net assets between funds

Unrestricted Restricted Total Funds
Funds Funds 2024
£ £ £
Tangible fixed assets 76,377 12,793 89,170
Current assets 121,321 91,995 213,316
Creditors less than 1 year (27,195) – (27,195)
Creditors greater than 1 year (18,289) – (18,289)
───────── ───────── ─────────
Net assets 152,214 104,788 257,002
═════════ ═════════ ═════════
Unrestricted Restricted Total Funds
Funds Funds 2023
£ £ £
Tangible fixed assets 81,726 13,784 95,510
Current assets 150,651 58,500 209,151
Creditors less than 1 year (22,205) – (22,205)
Creditors greater than 1 year (28,154) – (28,154)
───────── ──────── ─────────
Net assets 182,018 72,284 254,302
═════════ ════════ ═════════

24. Analysis of changes in net debt

At
At 1 Apr 2023 Cash flows 31 Mar 2024
£ £ £
Cash at bank and in hand 140,200 25,016 165,216
Debt due within one year (10,001) 1 (10,000)
Debt due after one year (28,154) 9,865 (18,289)
───────── ────────
─────────
102,045 34,882 136,927
═════════ ════════
═════════

- 22 -

The Abbey Access Centre

Company Limited by Guarantee

Management information Year ended 31 March 2024

The following pages do not form part of the financial statements.

- 23 -

The Abbey Access Centre

Company Limited by Guarantee

Detailed statement of financial activities

Year ended 31 March 2024

2024 2023
£ £
Income and endowments
Donations and legacies
Donations 12,973 13,184
──────── ────────
Charitable activities
Course fee income 30,490 25,621
Room hire 980 145
Awards for all – 9,980
CLIP 49,375 93,589
DWP Kickstart – 29,005
Enable 22,580 21,431
Youth Futures Foundation 60,480 201,600
Better Together Project 28,780 25,454
COLC 61,038 –
PeoplePlus 3,303 40,124
BBO 13,525 73,251
Community Renewal Fund – 80,855
Lincolnshire County Council 334,632 155,414
CITB 42,545 12,315
Lincs Community Foundation – 7,150
BNA 33,495 58,500
Investors in Lincoln 50,000 –
Miscellaneous 1,024 3,692
───────── ─────────
732,247 838,126
───────── ─────────
Other trading activities
Cafe 98,656 87,757
──────── ────────
Investment income
Income from cash investments 1,186 62
─────── ────
───────── ─────────
Total income 845,062 939,129
═════════ ═════════

- 24 -

The Abbey Access Centre

Company Limited by Guarantee

Detailed statement of financial activities (continued)

Year ended 31 March 2024

2024 2023
£ £
Expenditure
Costs of other trading activities
Opening stock 4,215 2,308
Café purchases 73,721 74,847
Closing stock (3,886) (4,215)
───────── ─────────
74,050 72,940
───────── ─────────
Expenditure on charitable activities
Wages and salaries 449,950 475,604
Employer's NIC 29,022 30,414
Pension costs 8,895 8,039
Rent and room hire 22,689 15,465
Rates and water 59 59
Light and heat 16,212 10,461
Repairs and servicing 1,009 1,646
Insurance 5,247 4,628
Cleaning 3,540 3,347
Donations 5,213 –
Hire of equipment 4,488 5,978
Travel costs 4,639 5,003
Legal and professional fees 23,538 41,598
Accountancy fees 3,810 4,104
Telephone 3,451 3,333
Printing, postage and stationery 8,807 9,890
Management & administration fees 65,000 61,000
Interest on bank loans and overdrafts 784 1,141
Bank charges 826 899
Repairs and renewals 8,947 8,820
Advertising 420 1,368
Computer supplies 10,425 11,085
Subscriptions 899 662
General expenses 2,719 1,887
Refreshments 802 924
Training costs 44,250 74,909
Exam fees 28,425 67,313
Depreciation 14,246 14,017
───────── ─────────
768,312 863,594
───────── ─────────
───────── ─────────
Total expenditure 842,362 936,534
═════════ ═════════
───────── ─────────
Net income 2,700 2,595
═════════ ═════════